Manager Accounts
Ahmed Fine Textile Mills Limited
Total years of experience :9 years, 8 Months
• Lead a team in ORACLE Financial environment to manage affairs of Spinning and a Weaving unit.
• Assigned as payable in charge for construction of a weaving mill project. The project completed on time, all payments made swiftly to ensure smooth commissioning of new mill.
• Accurate recording of purchases of Raw materials, stores, supplies and capital expenditures.
• Booking of commissions payable to agents.
• Ensuring correct and timely payments to suppliers of Raw materials, stores, contractors and services providers.
• Timely filing of income tax returns.
• Reconciliations of purchases as per Sales tax and Income tax returns.
• Supervision of Import and Export documentation to ensure timely arrival and dispatch of materials.
• Arranged short term finances to ensure better liquidity to cope with uncertainties of business.
• Kept highly motivated team of above 10 members to ensure effective working with minimum turnover.
• Reporting to management on monthly, Quarterly and annual basis on creditors status, unprecedented events and feasibility on new projects to be undertaken with current financial situation.
• Conduct Audit of 80+ branches per annum as per Audit committee directives / State Bank of Pakistan requirements based on prudential regulations.
• Investigated fraud and forgery incidents at various branches, findings and reports submitted resulted in recovery of income lost and improvement in internal control systems of institution.
• Preparation of Audit reports / investigation reports for management.
• As head of ERP audit checked branch data for conversion to TEMENOS T24 system from UNI BANK system. Lead teams to successful conversion of above 40 branches in less than one year.
• Drafting reports to bank management identifying weaknesses in the bank’s internal control systems and controls and making recommendations for their improvement.
• Conducted Internal audits, investigations and TEMENOS T24 assignments in branches. Scope of work, inter alia, included ensuring compliance with management policies, State Bank of Pakistan directives and reviewing existing systems to identify control weaknesses & recommendations for improvements.
• Effective tracking and reporting capital and expense spend, auditing requests and payments for compliance, calculating depreciation and interest, and monitoring and closing on-line equipment in the Capital Asset Management System.
• Coordinate and communicate on a regular basis with the Controller and Director of Construction while ensuring to advise of any anticipated problems in advance to be able to take corrective action in a proactive basis.
• Maintaining checking and savings accounts and bank reconciliations daily and monthly. Submit the monthly reconciliation to the Controller for approval. Monitor the cash flow and inform Director Finance as well as process owners at Head Office, of the status of each account.
• Keeping track of Company assets and liabilities deployed on project. This includes maintaining files of vehicles, construction equipment, Heavy and light machinery for maintenance purpose.
• Organized and track Construction’s insurance; including builders risk, liability and workers compensation.
• Produced monthly finance reports for the project team, to agreed timetables, showing budget, forecast, committed and actual performance against plan, with breakdown of costs and written commentary.
• Receiving sub-contractor bills and invoices, checking them for completeness and accuracy before payment and issuance of cheques. These include third party labor, ownership and operating costs of leased equipment and consultancy bills.
• Created and managed system to generate monthly posting entries for asset retirement, asset addition, construction-in progress and depreciation saving resources on monthly basis.
• Performed monthly subcontractor invoice payment disbursements, ensuring proper accounting allocations while further increasing standards for appropriate cash disbursements to ensure timely job and project completion with respect to accounts payables.
• Performed review and analysis of budget vs. actual variance in the monthly financial package and presented recommendations on critical balance sheet and income statement line items.
• Preparation of planning and strategy documents for audit engagements.
• Managing audit teams during the course of audit to ensure audit activities were carried out in a timely and efficient manner.
• Researching and resolving audit issues.
• Preparation of financial statements for statutory reporting.
• Computation of Corporation Tax liability.
• Drafting reports to company management identifying weaknesses in the company’s systems and controls and making recommendations for their improvement.
• Conducted an internal audit assignment of textile and weaving unit. The work included reconciliation of raw material stock and finished goods.
• Conducted a major internal audit assignment of footwear company (HUSH PUPPIES) concerning its material procurement, processing and sales system involving activity worth Rs.1 billion. The work included verification of purchases & associated payments, compliance test of related internal control systems, sales & associated receipts and system, identification of procedural & control weaknesses and agreeing corrective action plans.
• Book keeping of various investment companies. The work included recording of income and expenses, preparation of accounts and working papers for Auditor’s review.
• Following are the sectors in which above mentioned experience was attained:
Hotel Industry;
Food and allied;
Auto mobile;
Construction;
Ceramics;
Sugar and distillery;
Textile, spinning, weaving & composite;
Fertilizer;
Polypropylene bags and sacks;
Software.
Member of College basket ball team and member of track events (100 & 200 meters)